The Wall Street Journal
WSJ reported tonight that the Securities and Exchange Commission(SEC) is investigating SunEdison's statement to investors on its Nov. 10 earnings call, that it had $1.4 billion in cash and said it had “sufficient liquidity” to weather a sharp downturn in its stock price and cover upcoming obligations.
Knowledgeable people said the company had direct access to only a few hundred million dollars throughout September and October, and by November, the balance had dropped under $100 million.
SunEdison stock closed up about 4% at $1.26 today after rising as much as 15% earlier in the day on a debunked news report of a takeover bid for the company.
The word around town is that Georgetown has taken some action to protect itself and its future electric supplies, but, so far no announcement has been forthcoming. Where is the transparency?
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